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Down the street in CNBCs broadcasting room, Sluymer pointed out that the series of higher lows that the price of Bitcoin must hold at if the economy remains in a bearish state.

He cautioned that he considers that Bitcoin is going to challenge its downtrend, with Bitcoins price movement possibly turning into the upside when it breaks through the current downtrend levels.

As well, he also pointed out that Bitcoins RSI was sitting at quite a low level, like the levels seen before preceding temporary movements to the upside seen earlier this year.

The installation is there, but what we need to see is that the token actually breakout and continue through some very crucial levels.

However, like many analysts, Sluymer had something to say about the unlikely chance of a worst comes to worst scenario.  But Sluymer has still shared with the bullish sentiment with his co-worker, Tom Lee, saying:

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If youre short we think you should be very careful and reducing your short exposure. I think if youre looking to be long this is where you start adding here to your long exposure.

Bitcoin Price Predictions 2019: How high can Bitcoin cost go in 2019 As much as $1 million or down to $100 (In-Depth Analysis)

Bitcoin prices in 2019 have been indicated by volatility which has made bitcoin cost prediction in short-term a small challenge, even to the experienced analysts. So far, 2018 has presented its own surprises though not a dramatic as the rollercoaster we state in 2017.

History generally has a way of repeating itself bitcoin has a great deal of history that makes it an equal challenge predicting which history will be replicated. It requires more than a study of past trends to acquire predictions spot-on now and so we ended this article by highlighting certain area expert analysts were looking at. .

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Analysts, enthusiast, and industry statistics have quite diverging opinions and bitcoin cost predictions for both long and short-term. Optimism remains high in many quartersreports of a new survey among British financials imply a wide majority will buy more coins in hope of cost resurgence later this year.

As we delve into whos saying what and why, heres a heads-up. Expect a lot more price fluctuations in the interim. Its going to be a bumpy ride getting to where Bitcoin is headed by the years end.

John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, is being very positive about Bitcoin. He predicted that the Bitcoin cost will hit $1 million by 2020 following past years prediction of $7000 which was nicely surpassed.

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBTC has accelerated much faster than my model assumptions. I now forecast Bitcoin at $1 million from the end of 2020. I will still eat my d*** if wrong John McAfee/perfectpullquote

Apart from the economics behind the restricted supply of Bitcoin, his prediction considered the variables such as the increased adoption of Bitcoin and blockchain in addition to a total cryptocurrencys market cap around $162 billion that gives substantial room for growth.

The Swiss-based financial expert will possess us brace up for a decade of turbulence before any hope for a stable bitcoin. This he suggests will coincide with a general acceptance of Bitcoin even in hard-stance China. This though, not as a fiat replacement but a viable alternative.

Perfectpullquote alignfull bordertopfalse cite link colour class sizeIn my opinion, it will be at least 10 years before we see equilibrium.  Kristjan Dekleva (Hedge)/perfectpullquote

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The finance find more specialist at cryptocurrency project Hedge sees Bitcoin investments as all-too-similar into the DotCom bubble of the 90s.

Perfectpullquote alignfull bordertopfalse cite link color class sizeIn the short term, drops have been driven by emotion and in many cases disinformation a small rumor can have a large impactDemand is driven by market speculation, but the absence of institutional investors means that the market is unstable. /perfectpullquote

Known for his disparaging remarks against Bitcoin, a former chief economist at the International Monetary Funds (IMF) Kenneth Rogoff has poured icy water on hopes of Bitcoin making it to the moon.

Perfectpullquote alignfull bordertopfalse cite link colour course sizeI think Bitcoin will be worth a tiny fraction of what it is now if had been headed out 10 years from nowI will see $100 as being much more inclined than $100,000.   Kenneth Rogoff/perfectpullquote

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Rogoffs prediction is dependent on his long-held belief that governments will grow against anonymous virtual currencies like Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along quite different lines.